Sayyad Javed Sayyad Khaja vs. ITO, Ward-1(1), Aurangabad

Parties Involved

Facts Summary

The assessee, Sayyad Javed Sayyad Khaja, was engaged in the trading of onion seeds on a small scale exclusively with farmers in cash. For the Assessment Year 2014-15, the assessee did not file his return of income. Based on available information, the Department found that the assessee had made cash deposits aggregating to Rs. 44,75,000/- during the year. As no return was filed, the case was re-opened under section 147 of the Income Tax Act, 1961, and a notice under section 148 was issued. The Assessing Officer completed the assessment by adding the cash deposits as unexplained income under section 69A of the Act. The assessee appealed to the Commissioner of Income Tax (Appeals), who confirmed the addition. The assessee then appealed to the Tribunal, raising several grounds of appeal.…

Legal Issues

• 1. Whether the addition of Rs. 44,75,000/- made by the Assessing Officer under section 69A of the Income Tax Act, 1961, is justified.
• 2. Whether the assessee was given a reasonable opportunity to be heard and submit details/information.
• 3. Whether the Commissioner of Income Tax (Appeals) erred in confirming the incorrect jurisdiction assumed by the Assessing Officer.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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